Race on Sunday, Sell on Monday?

That is the old saying for some American car companies. But it may not be Honda's. Earlier this month we heard: "Honda Motor Co. has come to the conclusion that we will withdraw from all Formula One activities, making 2008 the last season for participation," said Honda president Takeo Fukui at an emotional press conference.

Honda has not done too well in Formula One racing, and with the current economic conditions they have decided to pull the plug. But all is not lost. There are a variety of different individuals and companies who are interested in purchasing the team.

Flamboyant Indian business tycoon Vijay Mallya is pitched against Mexican billionaire and one of the world's richest persons, Carlos Slim Helu, among others for buying the Formula One team of Japanese auto giant Honda, a report said on Monday.

Pro Drives David Richards, a swiss hedge fund and Greek shipping tycoon Achilleas Kallakis,have all been mentioned as potential buyers.

It will be interesting to see who is the eventual owner of the team and where it will be located.

It's a very expensive sport where it has been reported that a single bolt can cost $1,000 and a yearly figure of $400,000,000 to host a full team has been reported. Steps are being taken to lower the total cost.

"An F1 team should be able to get by on $60-70m a year," says Max Mosley, president of motor racing's governing body, the FIA.

 I'll keep you posted about the  2009 season to see if costs really come down, or if other teams are put on the block.

If you want to discuss Formula One, E-mail Me!

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